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【Native Sui Stablecoin Sui Dollar (USDsui) Officially Launches】
Odaily Planet Daily reports that the native stablecoin of the Sui blockchain, Sui Dollar (USDsui), has officially gone live today. This stablecoin is issued by Bridge, a stablecoin company acquired by payment giant Stripe last year. The revenue generated from the assets backing it will be reinvested into the Sui ecosystem. Adeniyi Abiodun, co-founder of Mysten Labs, stated that the profits from bonds and liquidity assets supporting USDsui will be used to buy back and burn SUI tokens or deployed into decentralized finance (DeFi) protocols and automated market makers to incentivize trading. This contrasts with the model of mainstream stablecoin issuers like Tether and Circle, which retain all profits. (CoinDesk)